Question
vaibhav shrivastav (accountant) (8 Points)
29 July 2016
What journal entry we made in books when our building convert into flats
11 Replies
NV KIRANKUMAR REDDY
(student)
(123 Points)
Replied 29 July 2016
No entry required at the time of conversion
NV KIRANKUMAR REDDY
(student)
(123 Points)
Replied 29 July 2016
Entry should be required only at the time of sale of flats
vaibhav shrivastav
(accountant)
(8 Points)
Replied 31 July 2016
So sir what i do with the renovation and the charges which i paid to convert it,
Help me
Help me
NV KIRANKUMAR REDDY
(student)
(123 Points)
Replied 31 July 2016
u can also have another option. Debit the expense to p&l account
vaibhav shrivastav
(accountant)
(8 Points)
Replied 31 July 2016
Pls make a journal entry for me to got it easy?
vaibhav shrivastav
(accountant)
(8 Points)
Replied 31 July 2016
So the journal entry is that:-
Exp. A/c dr.
To p&l a/c
Exp. A/c dr.
To p&l a/c
vaibhav shrivastav
(accountant)
(8 Points)
Replied 31 July 2016
What cr. P&l or building or flat group
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